Latest reading: Inflation ticked up to 2.4% in May from April’s 2.3%. The reading was slightly above the Fed’s 2.0%...
Inflation in Spain
In the year 2024, the inflation in Spain was 2.87%, compared to -0.19% in 2014 and 3.40% in 2023. It averaged 1.88% over the last decade. For more inflation information, visit our dedicated page.
Spain Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Spain from 2014 to 2024.
Source: Macrobond.
Spain Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | -0.3 | 3.0 | 8.3 | 3.4 | 2.9 |
| Inflation (HICP, ann. var. %, eop) | -0.6 | 6.6 | 5.5 | 3.3 | 2.8 |
| Inflation (Core, ann. var. %, aop) | 0.7 | 0.8 | 5.2 | 6.0 | 2.9 |
| Inflation (PPI, ann. var. %, aop) | -4.3 | 17.3 | 35.5 | -4.7 | -3.7 |
Harmonized inflation holds steady in April
Latest reading: Harmonized inflation came in at 2.2% in April, unchanged from March’s figure and matching the Euro area average. Stronger price pressures for recreation plus restaurants and hotels offset smaller increases in food and housing prices. The trend pointed down slightly, with annual average harmonized inflation coming in at 2.6% in April (March: 2.7%). Meanwhile, consumer price inflation edged down to 2.2% in April from March’s 2.3%. Lastly, harmonized consumer prices rose 0.62% over the previous month in April, coming in below the 0.69% increase recorded in March.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Spanish inflation projections for the next ten years from a panel of 34 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Spanish inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Spanish inflation projections.
Want to get access to the full dataset of Spanish inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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United States: Inflation rises in May but undershoots expectations -
Taiwan: Inflation declines to lowest level since March 2021 in May Latest reading: Inflation eased to 1.5% in May, below April’s 2.0%. May’s figure marked the weakest inflation rate since March... -
Mexico: Inflation comes in at highest level since November 2024 in May Latest reading: Inflation came in at 4.4% in May, up from April’s 3.9%. May’s result represented the highest inflation rate... -
Ukraine: Inflation hits over two-year high in May Latest reading: Inflation came in at 15.9% in May, which was up from April’s 15.1% and was the highest one... -
Indonesia: Inflation moderates in May Latest reading: Inflation inched down to 1.6% in May, following April’s 1.9% and approaching the floor of the Central Bank’s... -
Thailand: Consumer prices drop further in May Latest reading: Consumer prices decreased 0.6% year on year in May, following April’s 0.2% fall. May’s reading represented the largest... -
Dominican Republic: Inflation increases to over one-year high in May Latest reading: Inflation rose to 3.8% in May from April’s 3.7%. May’s figure represented the highest inflation rate since November...